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Hire your Kids for Summer and Profit

MP900411810 Hire the Kids
The summer school break will start soon
, and it could be to your advantage to hire your kids. It’s a win-win... They get life and work experience -- as well as a salary -- and you get tax and other financial benefits.

 

How is a Company Valued?

Guess Article By: Douglas Craig, Chartered Business Valuator

I am frequently asked how a company is valued. Simply put, the value of a company is the value in today’s dollars of all the future benefits of ownership of the company.

What the Small Business and Self-Employed Can do to Prepare for Tax Filing

business lunchTaxation for Self-Employed Individuals and Small Businesses

It is always better to be pro-active, rather than reactive when dealing with taxation. Proper planning is critical in helping individuals maximize their tax refund and reduce the overall risk of being audited by the Canada Revenue Agency. Self-employed individuals must file their tax return every year by June 15th and, pay any balance in taxes owed by April 30th. The income generated from self-employed work is reportable as business or professional income on your personal tax return. It is crucial that you have documentation for all incoming fees you incur, such as income slips, receipts, contracts, letter agreements or invoices.

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Williamson Accounting is a firm that provides a high standard of accounting for Small Businesses in the Greater Toronto and Surrounding areas.

Small Business Accounting and Tax Solutions

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